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Ratings agency Moody's said on Wednesday the suspension of financial assistance to Mozambique and discovery of hidden debt hit its assessments of the government's financial strength and was also a credit negative for the country. The World Bank is delaying approval of further development loans pending a debt sustainability analysis to be conducted with the IMF.
Turkey is on the verge of completing the necessary work to secure visa-free travel for Turkish citizens to the European Union, Foreign Minister Mevlut Cavusoglu said on Wednesday after parliament passed new legislation overnight. The 28-nation EU depends on Ankara's cooperation to maintain a March pact that has helped stem the flow of refugees and migrants arriving from Turkey, from which more than a million people reached Greece and Italy last year. The European Commission is expected to declare on Wednesday that Turkey has broadly met the criteria for visa liberalization and ask EU governments and the European Parliament to approve the decision by the end of June.